Oneindig Technologies Limited
Oneindig Technologies Limited is a BSE SME IPO from an EPC company specialising in end-to-end solar power solutions including design, supply, installation, and O&M services across residential, commercial, industrial, and government segments in India.
Overview
About the Company
Oneindig Technologies Limited is an Engineering, Procurement, and Commissioning (EPC) firm focused on the solar energy sector. The company delivers turnkey solar power solutions encompassing design, supply, installation, and Operations & Maintenance (O&M) services. It handles a wide variety of solar projects — including rooftop installations for residential, commercial, and industrial clients, ground-mounted systems, and solar water pumps — for both private and government customers across more than 14 states in India. Revenue is earned through EPC services and the sale of solar products such as photovoltaic modules, inverters, and solar water pumps. The company operates under both a CAPEX model (client-owned assets) and a RESCO model (company-owned assets with power sold to consumers), the latter generating recurring annuity income.
Company Details
📋 Objects of Issue (Use of Proceeds)
- › Funding working capital requirements of the company (₹20 crores, approximately 72.33% of net proceeds)
- › General corporate purposes (₹7.65 crores, approximately 27.67% of net proceeds)
✅ Strengths
- ✓ Well-established EPC player with a demonstrated operational history spanning more than 14 states across India.
- ✓ Integrated co-development business model enabling delivery of comprehensive turnkey solar solutions.
- ✓ Demonstrated technical expertise in executing solar projects under challenging conditions.
- ✓ Strong pipeline visibility backed by a healthy order book valued at approximately ₹14,859.19 lakhs.
- ✓ Stable and predictable income streams arising from long-term O&M contracts and the RESCO annuity model.
⚠️ Risks
- ! The business is working-capital intensive, necessitating significant and ongoing financing arrangements.
- ! High customer concentration risk, with the top 10 customers accounting for 97.25% of total revenues.
- ! Significant procurement concentration risk, with the top 10 suppliers representing 86.01% of total purchases.
- ! The brand name 'Oneindig' is held by a Promoter Group entity rather than the company itself, creating potential brand-related risks.
- ! Risk of being unable to adequately protect or use its intellectual property rights, including key logos.